Recently, Jim Heppelmann (President and CEO of PTC, the company I currently work for) was featured in an article in the Boston Globe talking about PTC’s exciting move to the Boston Seaport, A.K.A. The Innovation District. The article also featured the story of how Boston’s Mayor, Marty Walsh, came to PTC for a visit and spoke to the employees at one of our famous socials. He praised the company and the employees for making the move to Boston’s newest up and coming hub for business and cultural innovation! And the seaport is pretty much an amazing new innovation district at that—especially with all the incredible simultaneous construction projects going on down there. However, it might be interesting to take quick walk down memory lane to reminisce about Boston’s other innovation districts, of the past. Let’s go all the way back to Colonial times. Over by where North Street meets Moon Street is Paul Revere’s House. This historical landmark is located in Boston’s North End district, now synonymous with the Italian-American community. However, back in the late 17th Century, this area was well known for it’s silversmiths (like Paul Revere, an innovator of his time), blacksmiths, artisans, journeymen, and laborers. For a city that was founded in 1630, this part of Boston became its innovation district of that time. Fast forward through the Industrial Age which affected the entire world, Boston included, and you will see that another innovation district presented itself. This time on the Boston waterfront known as Boston Harbor—part of which is where today’s Boston Seaport Innovation District now resides. For over two hundred years, Boston Harbor, which compromises all the famous Boston wharves such as Long Wharf, Rowes Wharf, Fish Pier, Commonwealth Pier, and Union Wharf to name a few, were the gateways to shipping, railroads, international commerce, jobs, markets, construction, and of course innovation. Without the wharves of the 18th and 19th Centuries, Boston could not have grown...
Pay
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October 14, 2019Today’s Digital Tech & Industry section is all about the cornerstone of our civilization: cash! That’s right. For as long as there’s been human society there has been some form of currency. For most of human history it’s been more or less little bits of embossed metal called coins. However, in the 21st Century (thank goodness) we have Digital Mobile Payments, Cryptocurrencies, and Social Media Payments to enable all of our commercial indulgences! Hard to believe that there would be more than one way to pay but there it is. When we look back at 20th Century digital payments, the only examples that come to mind are wire transfers and direct deposit. However, now those seem so quiant compared to what we have going on today. A lot of hullabaloo is made over cryptocurrencies such as Bitcoin and others (e.g. NEO, EOS, and Monero); however, in a practical sense, trying to pay for say a pair of jeans or a latte with them still seems a bit too farfetched. But for millennials and Gen‐X/Yers, it’s as simple as taking out their smartphone (or raising their smartwatch) and tapping the POS (Point of Sale) terminal using their eWallets (i.e. Apple/Google/Samsung Pay). Apple Pay, Google Pay, and Samsung Pay are all pretty much the same with only a few device‐specific differences. They all use the NFC (or Near‐Field Communication) chips inside them to enable “contactless” transactions that are funded by a person’s digital wallet (or eWallet) usually linked to a bank/credit account. Samsung Pay actually has another level of mobile payment called MST (Magnetic Secure Transaction) that enables users to use their phones just like swiping a credit card—good for older POS terminals that do not have an NFC chip reader. And this is all well and good for millions of transactions...